EBA opinion at odds with Commission on IFR
The European Banking Authority (EBA) has published its opinion, disagreeing with the Commission’s decision to partially endorse and introduce amendments to the Final Regulatory Technical Standards (RTS) on the separation of payment card schemes and processing entities under the Interchange Fee Regulation (IFR), based on the assumption that all card schemes and processing entities are, or should be treated as if they were, legally and structurally separated.
EBA consults on guidlines for infringemenets under PSD II
The EBA has published a public consultation on the draft Guidelines on procedures for complaints of alleged infringements of the PSD2, the Guidelines set out the process of complaints that payment service users and other interested parties can submit to competent authorities about alleged infringements.
UK competition authority publishes order on banking APIs
The Competition and Markets Authority (CMA) has now issued its final order on how two new open banking standards will have to be developed by the UK nine biggest banks by 13 January 2018 (the transposition deadline for PSD II). The standards shall include a new ‘read-only data standard’ and a ‘read/write data standard’ and RBS, Lloyds, Barclays, HSBC, Santander, Nationwide, Danske, Bank of Ireland and Allied Irish Bank are in charge of the implementation.